Way to Go, Apple
Makes me happy to hear about corporate profits - especially when they send the DOW headed back up in the right direction:
U.S. stocks rose on Monday, rebounding from last week's steep sell-off as optimism that Apple (AAPL.O: Quote, Profile, Research) would deliver strong earnings drove the Nasdaq to a gain of 1 percent.
Apple did not disappoint, reporting sales and profit that handily beat Wall Street's forecasts after the closing bell****, sending Nasdaq futures higher.
During the regular session, bargain hunters were out in force, snapping up shares in the sectors hardest hit during last week's slump, such as home builders, banks and retailers. Stronger-than-expected earnings from drug maker Merck (MRK.N: Quote, Profile, Research) lifted its shares more than 3 percent and helped spur a late recovery in the Dow.
****Bought my BIL a new IPod today, doing my part to help the economy out. (BIL's having a colon resection on Wednesday and we thought a new toy might be nice for his recuperation)
Comments